Page 252 – Property118

PRS landlords to get £70bn in government housing support, NEF says

1st February 2024

Private rented sector landlords are set to receive more than £70 billion in housing support from the government over the next five years, according to an analysis by the New Economics Foundation (NEF). The think tank found that private landlords will benefit from six times more public money than the government’s planned spending on affordable […]

What changes will Labour make to the Renters (Reform) Bill?

31st January 2024

Will a Labour Government mean tough times ahead for buy-to-let landlords and buy-to-let property investors?  And what amendments will Labour make to the Renters Reform Bill going through Parliament? Join Ranjan Bhattacharya as he discusses all this and more in the video below 

Labour vows to extend Awaab’s Law to the PRS

31st January 2024

Labour’s Angela Rayner says the party will extend Awaab’s Law to landlords in the private rented sector (PRS). She told Good Morning Britain viewers – see the video below – this will protect 1.6 million children who live in cold, damp or mouldy homes owned by private landlords, according to data from Citizen’s Advice. Awaab’s […]

Capital gains tax – Sneaky rules?

31st January 2024

WARNING For those who aren’t aware:  Taxpayers have 60 days from the date of completion of the disposal (not the date of exchange of contracts) to report the property disposal and pay the estimated CGT to HMRC. Late filing penalties may be charged, together with interest on any unpaid tax. We sold 2 out of […]

Business professional in formal suit at modern office building

UK house prices bounce back as mortgage rates fall

31st January 2024

The UK housing market showed signs of recovery in January, as the annual rate of house price growth improved from -1.8% in December to -0.2% in January, the strongest performance since January 2023. According to the Nationwide house price index, prices increased by 0.7% in January, after adjusting for seasonal factors. This is the second […]

Business leader discussing UK property market outlook amid Budget uncertainty

BTL mortgage products surge while first-time buyers struggle

31st January 2024

There’s a growing disparity between the mortgage options for landlords and first-time buyers in the UK with the number of buy to let mortgage products rising by 8.8% in the last quarter. But the number of products for first-time buyers dropped by 3.4%. That’s according to research from Octane Capital which analysed the current availability […]

Property expert outdoors discussing rising UK rent prices

Young renters priced out by deposit and rent costs

31st January 2024

The harsh reality of renting in the UK for young people has been revealed by a report which highlights that just 7% of the rental market is affordable for under-30s. The research from Zero Deposit is based on the combined cost of a five-week deposit and the first month’s rent. The firm also looked at […]

Anti-social gang drinking and smoking police council property118.com

“Three strikes and you’re out” rules to crackdown on anti-social tenants in social housing

31st January 2024

Tenants engaging in anti-social behaviour could face being disqualified from social housing. The proposals by the government in a bid to shake up the social housing sector could see a “three strikes and you’re out” policy implemented to tackle anti-social behaviour. Those who engage repeatedly in anti-social behaviour could face being disqualified from social housing […]

pic of man with a dilemma about a b2l mortgage for a leasehold property property118

Facing rent freeze dilemma?

31st January 2024

Hello, some background the property is based in the London/South East region. Tenants were struggling historically and large arrears built up during covid. Eventually, the tenants recovered and have been paying rent on time during the past year but made minimal (as in near zero) effort to deal with the arrears until the issue was […]

Propertymark policy head highlights concerns over the Renters’ Rights Bill’s impact on landlords and tenants

Rents fluctuate amidst supply shortages in PRS

31st January 2024

Tenant demand is still continuing to outstrip supply with letting agents seeing a reduction in stock levels. The latest figures from Propertymark’s Housing Insight report reveal a 16% fall in the number of new tenancies signed in December. According to the report, rents continue to “ebb and flow” with some agents reporting a rent increase. […]

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NRLA partners with Title Guardian to safeguard landlords against property fraud

31st January 2024

The NRLA have teamed up with a property fraud service to help protect landlords from tenant subletting. Title Guardian monitors Land Registry title documents and other digital sources and is designed to meet the rising threat of property fraud for landlords. According to Direct Line Business Insurance, nearly half of tenants (48%) who sublet do […]

Celeb doctor suffers eviction nightmare and warns: ‘Don’t be a landlord’

30th January 2024

A BBC presenter and GP has revealed how a ‘friend’ of 25 years turned into a nightmare tenant who trashed her flat and refused to pay rent or leave. Dr Renee Hoenderkamp, known to many as Dr Renee, regularly appears on BBC Radio London and Inside Out, rented out her one-bed flat in Hendon, northwest […]

Opportunities for UK property investors in 2024

30th January 2024

Join us for a live talk from The Baker Street Property Meet with renowned property expert, Andrew Roberts, as he shares invaluable insights into the dynamic landscape of the UK property market in 2024. From emerging trends to unique investment opportunities, Andrew will guide you through your window of opportunity for success in the ever-evolving […]

Scotland PRS landlords agents tenants property118.com

Scotland – Tenant bringing up notice after I failed to sell?

30th January 2024

Hi, I served notice to my tenant last year and she gave me 28 days notice and vacated. I wanted to sell the property and tried to sell it. But since then, in last 6 months I didn’t get any offers. So I’m putting the property back on the market for rent. The rent increase since […]

Landlord reviewing a property management contract before signing termination terms.

High agency fees when terminating property management contract?

30th January 2024

Hello, We signed a contract with an agency for them to manage our relationship with the tenants back in 2019. They oversaw tenant referencing, rent collection and contract. Since 2020/21, the fixed term tenancy agreement ran out and ever since the agent was not able to get a new fixed contract signed by the tenants. […]

Pic of a leasehold hall being flooded landlord leaseholder property118.com

A cautionary tale of not having landlord insurance?

30th January 2024

Hello, Nice and simple, just visited a friend who got flooded out and is now in temporary accommodation. He tells me his next door neighbour was working abroad and decided to rent out the property. It got flooded ! – but he hadn’t told the insurance he was renting it out, so they returned his […]

Professional woman standing outdoors, illustrating commentary on pressures facing renters and landlords

House price slump threatens homeowners with negative equity and mortgage woes

30th January 2024

Homeowners could be in for a rough ride as UK house prices are expected to fall 5.9% this year, according to the latest Hargreaves Lansdown Savings and Resilience Barometer. The report warns that falling prices could push many homeowners into negative equity, make remortgaging harder and more expensive, and erode their retirement savings. The firm […]

No difficulty renting for First Minister during housing crisis

30th January 2024

Despite Scotland facing a housing emergency, First Minister Humza Yousaf spent £6,000 a month of taxpayer’s money on a rented flat in Edinburgh. The Scottish Tories slammed the eye-watering cost of the three-bed flat, which the SNP leader used while Bute House (the official residence of the First Minister) was undergoing an £825,000 refurbishment. This […]

More first-time buyers aged over 50 as house prices soar

30th January 2024

Many people are delaying their first home purchase until their 50s or beyond, as house prices have rocketed in recent years, one firm reveals. Tembo Money, a mortgage specialist, analysed data from the Financial Conduct Authority (FCA) and found that the number of first-time buyers aged 50 or older increased by 29% between 2018 and […]

Majority of letting agents find the Renters (Reform) Bill unfair

30th January 2024

Letting agents believe the consequences of the Renters (Reform) Bill could significantly harm the private rented sector.   A Propertymark survey reveals a massive 94% of letting agents believe more landlords will leave the PRS if the bill becomes law. A further 83% of agents were concerned that the Bill would also result in fewer […]